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TMUS

T-Mobile

$61.80

0.63 (1.03%)

, S

Sprint

$8.39

0.71 (9.24%)

12:16
09/19/17
09/19
12:16
09/19/17
12:16

On The Fly: Top stock stories at midday

Stocks were mildly higher at midday after a quiet morning of trading as investors continue to stay on the sidelines ahead of tomorrow's policy announcement from the Federal Reserve. While almost no chance is seen that the Fed will raise rates tomorrow, it may give a clearer signal about its plans to hike in December and could begin to make changes to the rate at which it has been buying bonds as it slowly starts to tighten its incredibly loose monetary stance. ECONOMIC EVENTS: In the U.S., the current account deficit widened unexpectedly to $123.1B in Q2 from a revised $113.5 B in Q1. Import and export prices both rose 0.6% month-over-month in August, topping expectations. Housing starts dipped 0.8% to a 1.180M rate in August. Building permits increased 5.7% to a 1.3M rate, however. In Europe, the German ZEW survey for September came in strong, with both the Current Situation and Expectations readings beating forecasts. COMPANY NEWS: Shares of T-Mobile (TMUS) have advanced nearly 5% while Sprint (S) has added 9% after CNBC's David Faber reported that the companies and their corporate parents, Japan's SoftBank (SFTBF) and Germany's Deutsche Telecom (DTEGY), are in active talks for an all stock-for-stock merger of the number three and four wireless carriers in the U.S. Sources note that a deal could be "weeks away," even though talks are continuing "with vigor," added Faber. Of note, Verizon (VZ) shares jumped following the report, and remain up about 2.5% near noon, possibly because consolidation may be seen as decreasing the competitive pressure in the market... In other M&A news, shares of Bob Evans Farms (BOBE) have jumped following an announcement that it has agreed to be acquired by Post Holdings (POST) for $77 per share. Post is up 0.5% following the deal announcement, while Bob Evans is up 6% to trade above the agreed upon deal price... Also, Rite Aid (RAD) announced that it has secured regulatory clearance to sell 1,932 stores and other assets to Walgreens Boots Alliance (WBA) for an all-cash price of $4.375B. Following the completion of the transaction, Rite Aid will continue to operate approximately 2,600 stores and six distribution centers, the company noted. MAJOR MOVERS: Among the notable gainers was Kohl's (KSS), which gained a bit over 1% after announcing that it will offer free Amazon (AMZN) returns in 82 stores starting in October. Also higher following its earnings report was Steelcase (SCS), which rose 1.5% after reporting better than expected second quarter sales and earnings. Among the noteworthy losers was Autozone (AZO), which dropped 5% after reporting on its own earnings. Also lower was Synchronoss Technologies (SNCR), which plunged 39% after major shareholder Siris Capital said it was no longer interested in an all-cash acquisition of the company. INDEXES: Near midday, the Dow was up 32.78, or 0.15%, to 22,364.13, the Nasdaq was up 11.83, or 0.18%, to 6,466.47, and the S&P 500 was up 3.23, or 0.13%, to 2,507.10.

TMUS

T-Mobile

$61.80

0.63 (1.03%)

S

Sprint

$8.39

0.71 (9.24%)

VZ

Verizon

$49.28

1.1869 (2.47%)

BOBE

Bob Evans

$72.93

1.02 (1.42%)

POST

Post Holdings

$86.28

0.44 (0.51%)

RAD

Rite Aid

$2.46

-0.27 (-9.89%)

WBA

Walgreens Boots Alliance

$82.60

0.1 (0.12%)

KSS

Kohl's

$45.65

0.76 (1.69%)

AMZN

Amazon.com

$974.19

-12.6 (-1.28%)

SCS

Steelcase

$14.63

0.275 (1.92%)

AZO

AutoZone

$537.84

-25.56 (-4.54%)

SNCR

Synchronoss

$16.75

0.64 (3.97%)

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TMUS T-Mobile
$61.80

0.63 (1.03%)

09/19/17
DRXL
09/19/17
NO CHANGE
DRXL
Buy
Shenandoah would be 'biggest winner' in wireless merger, says Drexel Hamilton
After CNBC's David Faber reported that T-Mobile (TMUS) and Sprint (S) are in "active" talks about a possible merger, Drexel Hamilton analyst Barry Sine called Shenandoah Telecommunications (SHEN) potentially the "biggest winner" if such a deal comes to pass. If T-Mobile bought Sprint, it would have to decide whether to acquire Shenandoah at fair market value, shut down its network and retail stores in Shentel's area within two years or to sell the T-Mobile customers and network to Shentel at a discount, which Sine sees as the option the company would most likely choose given its integration challenges. The analyst, who foresees significant acceleration in Shenandoah's results in coming quarters even without a Sprint merger deal, keeps a Buy rating on the shares, which are up 1.5% in late morning trading.
09/14/17
KEYB
09/14/17
NO CHANGE
KEYB
Lack of Band 71 inclusion a near-term negative for T-Mobile, says KeyBanc
KeyBanc analyst Brandon Nispel says that the lack of inclusion of band 71, or 600 MHz spectrum, in iconic device launches from Samsung (SSNLF) and Apple (AAPL) is a clear negative for T-Mobile (TMUS). T-Mobile spent $8B to purchase this spectrum and will spend more capital going forward to build it out, without having the ability to put it to use for at least another year, he notes. Nispel believes investors are likely to view this as negative, and it could cause some weakness to shares.
09/07/17
KEYB
09/07/17
NO CHANGE
KEYB
T-Mobile free Netflix costs likely to only increase over time, says KeyBanc
KeyBanc analyst Brandon Nispel notes that T-Mobile (TMUS) announced a partnership with Netflix (NFLX), in which the former will provide customers who subscribe to T-Mobile One unlimited family plans with free Netflix service. The analyst estimates that the initial impact would be $72M in year one, assuming a 30% penetration rate of his estimated 2.5M eligible accounts, and seems immaterial initially. However, Nispel believes the cost of this program will only be inflationary as T-Mobile One penetration increases and T-Mobile attracts more subscribers..
09/07/17
RHCO
09/07/17
NO CHANGE
RHCO
Netflix could see boost from T-Mobile deal, says SunTrust
SunTrust analyst Matthew Thornton says that T-Mobile's (TMUS) decision to provide free subscriptions to Netflix (NFLX) with some of its wireless plans could increase Netflix's subscriber base by about 1M. The analyst thinks that the deal could raise Netflix's 2018 revenue and EBTIDA by about 1%-5%. However, the analyst keeps a $175 price target and a Hold rating on Netflix.
S Sprint
$8.39

0.71 (9.24%)

08/16/17
SBSH
08/16/17
NO CHANGE
SBSH
Citi still views Sprint, T-Mobile merger as most likely
Citi analysts Michael Rollins and Jason Bazinet continue to expect 2017 to be the year of mergers and acquisitions in the Wireless space. Since attending SoftBank's (SFTBY) Q2 Investor event and meeting with T-Mobile US (TMUS) management, the analysts still view a merger scenario between Sprint (S) and T-Mobile as the most likely to emerge in the Wireless space. "We are getting the increasing sense from multiple companies in the category that the regulatory environment may be as good as it gets," Rollins and Bazinet write in a research note.
08/14/17
UBSW
08/14/17
NO CHANGE
Target $450
UBSW
Buy
Charter price target raised to $450 from $380 at UBS
UBS analyst John Hodulik raised his price target on Charter to $450 from $380 following his review of potential strategic options for the company. The analyst looked at the increasing M&A speculation and said many of the options come with significantly higher leverage than its current ratio. He believes it can be increased and supported with free cash flow while maintaining its investment grade rating. Hodulik said applying a conservative multiple would suggest significant upside to the shares setting a possible floor for a suitor. Hodulik reiterated his Buy rating on Charter shares.
09/01/17
SBSH
09/01/17
NO CHANGE
Target $77
SBSH
Buy
T-Mobile has upside with or without Sprint merger, says Citi
Citi analyst Michael Rollins says investor feedback has been mixed on the idea of T-Mobile (TMUS) possibly buying Sprint (S) at its current price or a premium. Investors are concerned that stand-alone T-Mobile can repurchase shares and create more value over the next five years without Sprint, Rollins tells investors in a research note. The analyst sees upside potential for T-Mobile shares with or without a Sprint merger and remains a buyer of the stock. The company should build "meaningful" cash and balance sheet flexibility over the next two years, Rollins contends. The analyst, however, continues to prefer a Sprint merger, even if T-Mobile pays a premium. He raised his price target for the shares to $77 from $70, which reflects a 75% probability of T-Mobile remaining a standalone company at a $75 per share value, and a 25% probability of an $81 per share M&A value. Rollins keeps a Buy rating on T-Mobile.
VZ Verizon
$49.28

1.1869 (2.47%)

07/26/17
SBSH
07/26/17
NO CHANGE
SBSH
Comcast should acquire Verizon for four reasons, says Citi
Citi analyst Jason Bazinet says Comcast (CMCSA) should acquire Verizon (VZ) for four reasons. Wireless would allow Comcast to extend Internet connectivity beyond the home, the deal would allow the company to push fiber deeper into neighborhoods, Verizon is apt to be the second biggest beneficiary of wireless consolidation, and Comcast could see upside if the tax code changes, Bazinet tells investors in a research note titled "Stars Are Aligning for Comcast + Verizon." The analyst sees the timing for a deal as right given Comcast's history of "trying to acquire assets that have fallen on difficult times" and the potential for a more amendable regulatory landscape under President Trump. Further, 2017 is the first year where Comcast's market capitalization exceeds Verizon's, the analyst adds. He estimates the pro forma combined company would generate $2.1B of annual synergies. Assuming a 20% premium for Verizon's equity, paid via 75% equity and 25% cash, Bazinet estimates Comcast shares would rise to $41. The stock closed yesterday up 28c to $39.75. Bazinet thinks Dish (DISH) could be the biggest loser should Comcast acquire Verizon, and he double downgraded the shares this morning to Sell from Buy.
08/02/17
DADA
08/02/17
NO CHANGE
DADA
RadiSys weakness overdone, says DA Davidson
DA Davidson analyst Thomas Diffely says that a change in strategy by Verizon (VZ) has "severely impacted" RadiSys' (RSYS) 2017 results. However, the analyst thinks that the decline in the stock was overdone, and he keeps a Buy rating on the shares.
09/05/17
MSCO
09/05/17
NO CHANGE
Target $53
MSCO
Overweight
Morgan Stanley predicts another 5c dividend hike coming for Verizon
Morgan Stanley analyst Simon Flannery said he sees a few arguments for Verizon continuing its recent dividend growth pattern, but he also sees some counter-arguments for a smaller increase or even a dividend freeze. In the end, he expects the company, which has raised its dividend annually since 2007, will hike its annual dividend by 5c this quarter, most likely with an announcement being made this Thursday, September 7. Flannery keeps an Overweight rating and $53 price target on Verizon shares.
BOBE Bob Evans
$72.93

1.02 (1.42%)

09/19/17
MAXM
09/19/17
DOWNGRADE
MAXM
Hold
Bob Evans downgraded to Hold from Buy at Maxim
Bob Evans Farms (BOBE) has agreed to be acquired by Post Holdings (POST) for $77 per share.
07/19/17
07/19/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tyson Foods (TSN) reinstated with a Neutral at Credit Suisse. 2. Bob Evans (BOBE) initiated with a Buy at Berenberg. 3. Quanex (NX) coverage assumed with an Outperform at Wedbush. 4. Agile Therapeutics (AGRX) initiated with a Buy at H.C. Wainwright. 5. Caesars (CZR) re-initiated with an Outperform at Imperial Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/18/17
MAXM
08/18/17
NO CHANGE
Target $77
MAXM
Buy
Bob Evans estimates lowered on sow costs at Maxim
Ahead of the company's Q1 earnings report on August 30, Maxim analyst Stephen Anderson lowered his earnings per share estimate for Bob Evans to 37c from 41c and FY18 estimate to $2.22 from $2.34 to reflect a "prolonged seasonal spike" in sow costs. The analyst believes the headwind should be alleviated soon, however, and still thinks Bob's exposure to a higher-growth food products segment warrants premium multiples. The analyst lowered his price target for the shares to $77 from $80 and keeps a Buy rating on the name.
08/23/17
SIDC
08/23/17
INITIATION
SIDC
Neutral
Bob Evans initiated with a Neutral at Sidoti
POST Post Holdings
$86.28

0.44 (0.51%)

07/17/17
07/17/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. General Electric (GE) resumed with an Equal Weight at Morgan Stanley. 2. Post Holdings (POST) initiated with a Buy at Goldman Sachs. 3. Devon Energy (DVN) assumed with a Neutral at Piper Jaffray. 4. Baker Hughes (BHGE) initiated with a Market Perform at FBR Capital. 5. Altice USA (ATUS) was initiated with an Outperform at RBC Capital, an Overweight at JPMorgan, a Buy at Citi, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at BofA/Merrill and Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/13/17
MAXM
06/13/17
NO CHANGE
Target $80
MAXM
Buy
Bob Evans price target raised to $80 from $74 at Maxim
Maxim analyst Stephen Anderson raised his EPS estimates for Bob Evans (BOBE) to reflect easier commodity costs and contends that rising multiples among the company's direct peers - including Conagra (CAG), Hormel (HRL), Kraft Heinz (KHC), Pinnacle (PF), and Post (POST) - hints at the potential for accelerated industry consolidation. As previously reported, Anderson views Bob Evans as a target for a possible takeover and he keeps a Buy rating on the shares.
05/10/17
RHCO
05/10/17
NO CHANGE
RHCO
Post Holdings stock decline 'surprising,' says SunTrust
After Post's stock fell 5.5% in the wake of its results yesterday, SunTrust analyst William B. Chappell, Jr. calls the results "surprising." The analyst says that the results were "in-line" and "fairly straightforward." He still expects the company to meet the high end of its guidance, driven by "synergies from the Consumer Brands segment and outperformance of the Active Nutrition business." He thinks that the company's egg comparisons should improve, and he thinks that the decline in the stock has created an attractive entry point.
07/17/17
GSCO
07/17/17
INITIATION
Target $105
GSCO
Buy
Post Holdings initiated with a Buy at Goldman Sachs
Goldman analyst Jason English reinstated Post Holdings with a Buy and a $105 price target saying potential growth is compelling in the context of a growth backdrop for the industry and expects firming egg prices to continue.
RAD Rite Aid
$2.46

-0.27 (-9.89%)

09/11/17
LOOP
09/11/17
INITIATION
Target $2.5
LOOP
Hold
Rite Aid initiated with a Hold at Loop Capital
Loop Capital analyst Andrew Wolf started Rite Aid (RAD) with a Hold rating and $2.50 price target, stating that he views the company's re-worked store sale to Walgreens (WBA) as a "re-launch of Rite Aid's turnaround efforts" and believes it lacks intermediate term earnings visibility.
09/19/17
RBCM
09/19/17
INITIATION
RBCM
Sector Perform
Rite Aid initiated with a Sector Perform at RBC Capital
RBC Capital analyst George Hill started coverage of Rite Aid with a $2.50 price target and a Sector Perform rating.
08/23/17
UBSW
08/23/17
NO CHANGE
Target $96
UBSW
Buy
Walgreens Boots Alliance should see upside from new Rite Aid deal, says UBS
UBS analyst Michael Cherny said his review of the new Walgreens Boots Alliance (WBA) deal with Rite Aid (RAD) would provide immediate accretion from synergy opportunities if the deal is approved. He believes it can provide meaningful upside to earnings as well as remove the lack of clarity on capital deployment-driven earnings contribution. Thus, he sees the shares as having a positive risk/reward skew. Cherny reiterated his Buy rating and lowered his price target to $96 from $97 on Walgreens shares.
09/12/17
09/12/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. DowDuPont (DWDP) initiated with an Outperform at Macquarie. 2. Bunge (BG) initiated with a Neutral at Baird. 3. Rite Aid (RAD) initiated with a Hold at Loop Capital. 4. Nike (NKE) was initiated with an Outperform at Bernstein, while Under Armour (UA) was initiated with an Underperform. 5. Houlihan Lokey (HLI) initiated with an Overweight at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
WBA Walgreens Boots Alliance
$82.60

0.1 (0.12%)

09/19/17
RBCM
09/19/17
INITIATION
RBCM
Outperform
Walgreens Boots Alliance initiated with an Outperform at RBC Capital
RBC Capital analyst George Hill started coverage of Walgreens with a $96 price target and an Outperform rating. The analyst says that the company is poised to generate " industry leading volume growth that should lead to accelerating EPS growth." He expects the company's EPS to come in significantly above the consensus outlook.
09/14/17
LEER
09/14/17
NO CHANGE
LEER
Minimal hurricane exposure for pharma supply chain, says Leerink
Leerink analyst David Larsen sees less than 1% impact to revenues and earnings to companies in his coverage from Hurricane Harvey and Irma and believes any effects will be viewed as one-time in nature. The analyst notes that "the percentage of state impacted" and "days of impact" are particularly challenging variables in his model to estimate, but based on various assumptions he believes the hurricanes will prove to be a minor event for Express Scripts (ESRX), AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK). Nonetheless, Larsen says pharmacy retailers Walgreens Boots Alliance (WBA) and CVS Health (CVS) may face some store closures and possible damage costs.
09/07/17
WELS
09/07/17
NO CHANGE
WELS
Market Perform
Perrigo signaled willingness to work with Amazon, says Wells Fargo
Wells Fargo analyst David Maris noted that while presenting yesterday at the firm's conference, Perrigo (PRGO) said it would welcome working with Amazon on store brands. Currently, online sales partnerships with e-commerce arms of existing retailers, such as Walmart (WMT) and Walgreens (WBA), account for 1% of Perrigo products, he added. Maris, who said the company made an "upbeat and confident presentation," keeps a Market Perform rating on Perrigo shares.
08/28/17
NEED
08/28/17
NO CHANGE
NEED
Amazon, Whole Foods combined company not an incremental competitor, says Needham
Needham analyst Kevin Caliendo notes that drug retailers were weak after Amazon (AMZN) said it would provide its Prime members enhanced benefits while shopping at newly acquired Whole Foods (WFM) and cut prices on certain household staple items inside the grocer. While the analyst understands the Amazon threat will remain for the drug retailers and pharma supply chain, he believes the news should have no material impact on revenues or profits at CVS Health (CVS) and Walgreens Boots Alliance (WBA). Caliendo expects that Amazon will continue to try and lever its website and Whole Foods store locations to increase traffic, but he does not yet see the combined company as an incremental competitor beyond what each did separately.
KSS Kohl's
$45.65

0.76 (1.69%)

08/11/17
08/11/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) upgraded to Overweight from Equal Weight at Stephens with analyst Ben Bienvenu saying that the company's multi-year investments have led to a better in-store experience, which he sees continuing to drive momentum. 2. Kohl's (KSS) upgraded to Neutral from Underperform at Credit Suisse. 3. Huntington Bancshares (HBAN) upgraded to Overweight from Neutral at Piper Jaffray with analyst Kevin Barker saying the "disappointing" expense guidance has lowered expectations while Huntington should grow earnings faster than any regional bank peer in fiscal 2018 and fiscal 2019. 4. Axalta Coating (AXTA) upgraded to Overweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying the 16% pullback over the past three weeks has created an investment opportunity. 5. Perrigo (PRGO) upgraded to Neutral from Sell at Goldman Sachs with analyst Jami Rubin saying the quarterly results may mark the beginning of inflection towards stabilization in the Rx business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/07/17
ROTH
09/07/17
NO CHANGE
Target $48
ROTH
Buy
Roth Capital still a buyer of Alarm.com on Amazon.com, Kohl's headline risk
Roth Capital analyst Darren Aftahi notes that Amazon's (AMZN) in-store presence with Kohl's (KSS) should provide another platform promoting voice-enabled devices to consumers, notably their smart home functionality. While headline risk to Alarm.com (ALRM), the analyst feels Amazon lacks the "operating system" capability to connect various smart devices into a unified platform for a single means to control smart home devices. Aftahi believes Alarm.com's ability to integrate its software, enabling devices to talk to one another is a key differentiator versus Amazon, along with its 6k independent service provider network. He reiterates a Buy rating and $48 price target on Alarm.com's shares
09/06/17
BARD
09/06/17
NO CHANGE
Target $43
BARD
Neutral
Baird speculates if Kohl's could be takeover target for Amazon
After Kohl's (KSS) and Amazon (AMZN) announced a partnership this morning that will see Kohl's roll out a "smart home experience" in 10 stores and begin selling Amazon Alexa devices, Baird analyst Mark Altschwager called it an "If you can't beat them, join them" move and wondered if the news could "foreshadow a more significant relationship down the road," though he acknowledged the idea to be "pure speculation." He said that a brick & mortar apparel acquisition or strategic partnership could align with Amazon's rising fashion ambitions. Altschwager keeps a Neutral rating and $43 price target on Kohl's, adding that a shifting narrative around Amazon could improve sentiment and raise the stock's valuation.
08/10/17
FBCO
08/10/17
UPGRADE
FBCO
Neutral
Kohl's upgraded to Neutral from Underperform at Credit Suisse
AMZN Amazon.com
$974.19

-12.6 (-1.28%)

09/15/17
JPMS
09/15/17
NO CHANGE
Target $75
JPMS
Overweight
CBS recent share weakness overdone, says JPMorgan
JPMorgan analyst Alexia Quadrani views the recent pullback in shares of CBS (CBS) as overdone. The stock has underperformed over the prior month, down 12% versus the S&P 500 Index up 1%, Quadrani tells investors in a research note titled "Weather Channel's Gain is NFL's Pain; CBS Weakness Overdone." The analyst attributes yesterday's selloff to NFL ratings for week one, which declined 12% year-over-year. It is unreasonable to draw conclusions from just one weekend of games, especially last weekend given the storms, the analyst argues. Further, Quadrani says CBS CEO Les Moonves' comment yesterday that Amazon (AMZN) would be interested in bidding for NFL rights when they come due early next decade is "hardly news." She keeps an Overweight rating on CBS with a $75 price target.
09/15/17
PIPR
09/15/17
UPGRADE
Target $193
PIPR
Overweight
Henry Schein upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Sarah James upgraded Henry Schein (HSIC) to Overweight and raised his price target for the shares to $193 from $190. The analyst believes concern over Amazon (AMZN) entering the market is overdone and sees potential for improvement in dental consumables based on her firm's consumer surveys. James believes the recent pullback in Henry Schein shares creates an attractive entry point. She calls the company a "high quality, low earnings risk name."
09/19/17
KEYB
09/19/17
NO CHANGE
KEYB
KeyBanc remains positive on Activision Blizzard, Electronic Arts
KeyBanc analyst Evan Wingren remains positive on Activision Blizzard (ATVI), Electronic Arts (EA), and Take-Two (TTWO) after attending eSCon, a small eSports conference in Los Angeles. The analyst believes interest and momentum in the space remains high, and continues to think the majority of the economics in the industry will accrue to IP owners and scaled technology partners. Therefore, Wingren continues to see the publishers as well-positioned, as well as Amazon's (AMZN) Twitch, Google's (GOOG; GOOGL) YouTube, and Facebook (FB).
09/14/17
MSCO
09/14/17
NO CHANGE
Target $1150
MSCO
Overweight
Amazon can add 2.5M Prime members via Whole Foods deal, says Morgan Stanley
Morgan Stanley analyst Brian Nowak said he sees Whole Foods driving faster Prime subscription growth, as he estimates that about 5M Whole Foods households are not currently Prime members and he expects Prime-only pricing and offers can help Amazon convert half of these shoppers over to its service. He noted he is ahead of the Street consensus view on revenue, modeling 12% CAGR revenue growth for Whole Foods from 2017-2022, but he thinks consensus Consolidated Segment Operating Income, or CSOI, expectations appear "overly optimistic." After raising his Amazon estimates to integrate Whole Foods, Nowak keeps an Overweight rating and $1,150 price target on the shares.
SCS Steelcase
$14.63

0.275 (1.92%)

06/22/17
RAJA
06/22/17
NO CHANGE
RAJA
Steelcase Q1 results 'not good,' says Raymond James
Raymond James analyst Budd Bugatch says that Steelcase's Q1 results were "not good." The analyst expects the company's SG&A spending to remain "elevated" due to "structural changes" in its sector. However, the analyst says this is "likely the best long-term strategy," and he keeps a Strong Buy rating on the stock.
03/23/17
RAJA
03/23/17
UPGRADE
RAJA
Strong Buy
Steelcase upgraded to Strong Buy, risk/reward best in group, says Raymond James
As previously reported, Raymond James upgraded Steelcase to Strong Buy from Market Perform and established a $19 price target. Analyst Budd Bugatch said negative factors impacting the industry such as competitive pricing and raw material inflation are well known The analyst believes Steelcase has the best risk/reward profile in the office furniture sector and sees continued upside as the company improves profitability in its EMEA business and regains market share in the Americas business.
06/23/17
RAJA
06/23/17
DOWNGRADE
RAJA
Outperform
Steelcase downgraded to Outperform from Strong Buy at Raymond James
09/01/17
SIDC
09/01/17
UPGRADE
SIDC
Buy
Steelcase upgraded to Buy from Neutral at Sidoti
Sidoti analyst Gregory Burns upgraded Steelcase to Buy and maintained a $16 price target citing valuation and industry data that indicates a rebound in orders and sales in May and June.
AZO AutoZone
$537.84

-25.56 (-4.54%)

09/12/17
BTIG
09/12/17
NO CHANGE
BTIG
AutoZone valuation 'very compelling,' says BTIG
BTIG analyst Alan Rifkin says that AutoZone is trading at a 37% discount to the S&P, making its valuation "very compelling." He says that in the four previous times the stock traded at a 40% discount to the market since 2001, it outperformed the market for the next year all four times. Rifkin expects the company to report comp sales growth of 1.2% for its Q4, up from 1% last year. He keeps an $825 price target and a Buy rating on the shares.
09/15/17
09/15/17
NO CHANGE

Wolfe calls it 'way too early' to think about LBOs for most auto part
Wolfe Research analyst Chris Bottiglieri noted that auto part retailers have been "spookily rebounding" despite his survey pointing to negative investor sentiment, leading him to revisit his LBO model to assess take-out risk for the group. He concludes that while Advance Auto Parts (AAP) is entering a valuation range where an LBO is "in the discussion," he sees it as still "way too early" to consider the possibility of an LBO for O'Reilly Automotive (ORLY), AutoZone (AZO) or Genuine Parts (GPC). While Advance Auto shareholder Starboard may not sanction a deal that locks in losses, his estimated holding cost of $154 for the firm is a "soft floor" for a take-out price, he added.
09/19/17
FBCO
09/19/17
NO CHANGE
Target $583
FBCO
Outperform
AutoZone results better than feared, says Credit Suisse
Credit Suisse analyst Seth Sigman believes AutoZone's results are better than feared, and show some signs of progress. The analyst would expect some benefit from the hurricanes, and reiterates an Outperform rating and $583 price target on the shares.
09/12/17
OPCO
09/12/17
NO CHANGE
OPCO
Hardlines to benefit as hurricane cleanup efforts take hold, says Oppenheimer
Oppenheimer analyst Brian Nagel notes that the final tally of damages left behind by recent hurricanes is unlikely to be known for some time, and envisions a long and arduous period of cleanup and rebuilding across impacted regions. Nagel believes a collection of Hardlines names are particularly well positioned to capitalize upon a potential strengthening in underlying demand trends, including the leading home centers Home Depot (HD) and Lowe's (LOW), Lumber Liquidators (LL), Tractor Supply (TSCO), CarMax (KMX), and the auto parts chains AutoZone (AZO), O'Reilly Automotive (ORLY), Advance Auto Parts (AAP). Costco (COST) likely benefited as households stocked up on products ahead of storms, he adds.
SNCR Synchronoss
$16.75

0.64 (3.97%)

09/19/17
RAJA
09/19/17
DOWNGRADE
RAJA
Underperform
Synchronoss downgraded to Underperform from Outperform at Raymond James
Raymond James analyst Tavis McCourt downgraded Synchronoss (SNCR) two notches to Underperform from Outperform following news Siris Capital is no longer interested in an all-cash transaction for all the outstanding shares of the company and has withdrawn its $18 per share bid from June 22. Further, the analyst believes it increasingly unlikely that the current strategic review will result in an acquisition at a premium and expects share to come under pressure and stay in the range prior to the Siris indication of interest.
09/19/17
09/19/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Under Armour (UA, UAA) downgraded to Underperform from Market Perform at Wells Fargo with Wells Fargo with analyst Tom Nikic saying with consumers having filled their closets with athletic wear over the past seven years, the category "appears poised to take a breather for now." The analyst cut his price target for the shares to $13 from $17. 2. Kellogg (K) downgraded to Neutral from Overweight at Piper Jaffray with analyst Michael Lavery saying cereal could be at risk from shrinking center store space. 3. Nike (NKE) downgraded to Neutral from Positive at Susquehanna saying that his checks indicate that the North American and European businesses are decelerating as some key categories, especially basketball, have underperformed, resulting in excess inventory that will pressure sales and margins. 4. Synchronoss (SNCR) downgraded to Underperform from Outperform at Raymond James with analyst Tavis McCourt citing the news that Siris Capital is no longer interested in an all-cash transaction for all the outstanding shares of the company and has withdrawn its $18 per share bid from June 22. Further, the analyst believes it increasingly unlikely that the current strategic review will result in an acquisition at a premium and expects share to come under pressure and stay in the range prior to the Siris indication of interest. 5. Sony (SNE) downgraded to Neutral from Outperform at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/14/17
DRXL
06/14/17
DOWNGRADE
DRXL
Hold
Synchronoss downgraded to Hold from Buy at Drexel Hamilton
Drexel Hamilton analyst Greg Mesniaeff downgraded Synchronoss to Hold due to increased risk from the announced restatements for 2015 and 2016. The analyst said the restatements will lead to management credibility issues and could impact its relationships with key customers.
06/22/17
JPMS
06/22/17
NO CHANGE
JPMS
Neutral
Synchronoss comments on carriers should help ease concerns, says JPMorgan
JPMorgan analyst Sterling Auty said that comments made by Synchronoss (SNCR) in a presentation to its lenders regarding AT&T (T) and Verizon (VZ) continuing to be cloud customers should help ease some of the concern investors have had around the company's cloud business. Auty keeps a Neutral rating on Synchronoss shares.

TODAY'S FREE FLY STORIES

KORS

Michael Kors

$68.63

0.25 (0.37%)

, LULU

Lululemon

$106.18

-0.19 (-0.18%)

11:07
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05/26
11:07
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11:07
Periodicals
Dollar Tree looks interesting, Barron's says »

Next week, another 20…

KORS

Michael Kors

$68.63

0.25 (0.37%)

LULU

Lululemon

$106.18

-0.19 (-0.18%)

GME

GameStop

$12.64

-0.1 (-0.78%)

DLTR

Dollar Tree

$95.23

0.59 (0.62%)

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KHC

Kraft Heinz

$57.78

0.72 (1.26%)

, QCOM

Qualcomm

$59.95

0.85 (1.44%)

10:58
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Periodicals
Kraft Heinz, J&J among safe, 'solid' dividend stocks, Barron's says »

Kraft Heinz (KHC),…

KHC

Kraft Heinz

$57.78

0.72 (1.26%)

QCOM

Qualcomm

$59.95

0.85 (1.44%)

MRK

Merck

$59.08

-0.03 (-0.05%)

TGT

Target

$71.22

0.28 (0.39%)

OMC

Omnicom

$71.98

-0.1 (-0.14%)

CCL

Carnival

$64.27

0.12 (0.19%)

JNJ

Johnson & Johnson

$121.40

0.06 (0.05%)

MMM

3M

$198.98

-0.38 (-0.19%)

LLY

Eli Lilly

$82.75

0.05 (0.06%)

VLO

Valero

$118.81

-3.06 (-2.51%)

EMR

Emerson

$72.50

-0.77 (-1.05%)

WBA

Walgreens Boots Alliance

$63.52

0.09 (0.14%)

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MU

Micron

$61.33

-0.15 (-0.24%)

10:48
05/26/18
05/26
10:48
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10:48
Periodicals
Micron can solve low valuation, Barron's says »

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ATUS

Altice USA

$18.50

-0.05 (-0.27%)

10:40
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10:40
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10:40
Periodicals
Altice's spinoff could be winning bet, Barron's says »

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MU

Micron

$61.33

-0.15 (-0.24%)

, XLNX

Xilinx

$69.63

0.88 (1.28%)

10:35
05/26/18
05/26
10:35
05/26/18
10:35
Periodicals
AI revolution just getting started, Barron's says »

Artificial Intelligence…

MU

Micron

$61.33

-0.15 (-0.24%)

XLNX

Xilinx

$69.63

0.88 (1.28%)

03/08/13
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ZTCOY

ZTE Corp.

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

(0.00%)

08:08
05/26/18
05/26
08:08
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08:08
Hot Stocks
Week in review: How Trump's policies moved stocks »

Catch up on the top…

ZTCOY

ZTE Corp.

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$21.82

-0.445 (-2.00%)

HMC

Honda

$32.04

-0.34 (-1.05%)

NSANY

Nissan

$0.00

(0.00%)

F

Ford

$11.51

-0.11 (-0.95%)

GM

General Motors

$38.30

-0.09 (-0.23%)

TM

Toyota

$129.97

-2.47 (-1.87%)

VLKAY

Volkswagen

$0.00

(0.00%)

BAC

Bank of America

$30.16

-0.03 (-0.10%)

C

Citi

$68.42

-0.86 (-1.24%)

GS

Goldman Sachs

$235.05

-1.1 (-0.47%)

JPM

JPMorgan

$110.62

-0.64 (-0.58%)

MS

Morgan Stanley

$53.02

-0.96 (-1.78%)

USB

U.S. Bancorp

$50.54

-0.14 (-0.28%)

WFC

Wells Fargo

$54.91

0.25 (0.46%)

TWTR

Twitter

$33.64

0.11 (0.33%)

AA

Alcoa

$47.92

-1.26 (-2.56%)

CENX

Century Aluminum

$16.27

-0.07 (-0.43%)

AOBC

American Outdoor Brands

$12.53

0.05 (0.40%)

RGR

Sturm, Ruger

$63.10

0.5 (0.80%)

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HCLP

Hi-Crush Partners

$13.20

-0.825 (-5.88%)

17:54
05/25/18
05/25
17:54
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17:54
Hot Stocks
Hi-Crush Partners provides update on bulldozer incident in Whitehall facility »

Hi-Crush Partners…

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POST

Post Holdings

$77.98

1.49 (1.95%)

17:37
05/25/18
05/25
17:37
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17:37
Hot Stocks
Post Holdings reports fire in Michael Foods' plant in Pennsylvania »

Post Holdings reported a…

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ABMD

Abiomed

$394.49

0.04 (0.01%)

, WYN

Wyndham

$107.98

-0.58 (-0.53%)

17:34
05/25/18
05/25
17:34
05/25/18
17:34
Hot Stocks
Abiomed to enter S&P 500 index on May 31 »

S&P MidCap 400…

ABMD

Abiomed

$394.49

0.04 (0.01%)

WYN

Wyndham

$107.98

-0.58 (-0.53%)

MSCC

Microsemi

$68.74

0.005 (0.01%)

PRAH

PRA Health

$81.19

0.33 (0.41%)

GME

GameStop

$12.64

-0.1 (-0.78%)

FRED

Fred's

$1.69

0.05 (3.05%)

PRSP

Symbol now PB

$0.00

(0.00%)

RRTS

Roadrunner

$2.19

0.04 (1.86%)

DXC

DXC Technology

$94.20

-5.42 (-5.44%)

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PRAH

PRA Health

$81.19

0.33 (0.41%)

, ABMD

Abiomed

$394.49

0.04 (0.01%)

17:24
05/25/18
05/25
17:24
05/25/18
17:24
Hot Stocks
Breaking Hot Stocks news story on PRA Health, Abiomed »

PRA Health to replace…

PRAH

PRA Health

$81.19

0.33 (0.41%)

ABMD

Abiomed

$394.49

0.04 (0.01%)

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WYN

Wyndham

$107.98

-0.58 (-0.53%)

, MSCC

Microsemi

$68.74

0.005 (0.01%)

17:23
05/25/18
05/25
17:23
05/25/18
17:23
Hot Stocks
Breaking Hot Stocks news story on Wyndham, Microsemi »

Wyndham to replace…

WYN

Wyndham

$107.98

-0.58 (-0.53%)

MSCC

Microsemi

$68.74

0.005 (0.01%)

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ABMD

Abiomed

$394.49

0.04 (0.01%)

, WYN

Wyndham

$107.98

-0.58 (-0.53%)

17:21
05/25/18
05/25
17:21
05/25/18
17:21
Hot Stocks
Breaking Hot Stocks news story on Abiomed, Wyndham »

ABIOMED to replace…

ABMD

Abiomed

$394.49

0.04 (0.01%)

WYN

Wyndham

$107.98

-0.58 (-0.53%)

03/08/13
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PCG

PG&E

$44.67

0.84 (1.92%)

17:16
05/25/18
05/25
17:16
05/25/18
17:16
Periodicals
CA Forestry Dept rules PG&E equipment responsible for wildfires, Bloomberg says »

Report filed by…

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FARM

Farmer Bros.

$28.50

0.15 (0.53%)

17:09
05/25/18
05/25
17:09
05/25/18
17:09
Hot Stocks
Levin Capital Strategies reports 8.4% stake in Farmer Bros »

Levin Capital purchased…

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NDLS

Noodles & Company

$8.90

-0.35 (-3.78%)

17:07
05/25/18
05/25
17:07
05/25/18
17:07
Syndicate
Breaking Syndicate news story on Noodles & Company »

Noodles & Company…

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WIN

Windstream

$1.22

-0.125 (-9.29%)

17:06
05/25/18
05/25
17:06
05/25/18
17:06
Hot Stocks
Windstream completes one-for-five reverse stock split »

Windstream completed its…

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NDLS

Noodles & Company

$8.90

-0.35 (-3.78%)

17:06
05/25/18
05/25
17:06
05/25/18
17:06
Syndicate
Breaking Syndicate news story on Noodles & Company »

Noodles & Company…

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EPD

Enterprise Products

$27.87

-0.12 (-0.43%)

17:01
05/25/18
05/25
17:01
05/25/18
17:01
Hot Stocks
Enterprise Products conduts open season for West Texas Crude oil expansion »

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INO

Inovio

$4.89

0.06 (1.24%)

16:37
05/25/18
05/25
16:37
05/25/18
16:37
Syndicate
Breaking Syndicate news story on Inovio »

Inovio files $250M mixed…

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RCII

Rent-A-Center

$10.14

0.13 (1.30%)

16:36
05/25/18
05/25
16:36
05/25/18
16:36
Hot Stocks
Rent-A-Center 16.8% shareholder Engaged Capital nominates Carol McFate to Board »

On May 25, 2018, Engaged…

03/08/13
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AKER

Akers Biosciences

$0.59

0.0086 (1.48%)

16:34
05/25/18
05/25
16:34
05/25/18
16:34
Hot Stocks
Akers Biosciences receives delinquency notice from NASDAQ »

Akers Biosciences…

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DHCP

Ditech

$6.60

0.37 (5.94%)

16:31
05/25/18
05/25
16:31
05/25/18
16:31
Hot Stocks
Ditech discloses receipt of late filing notice from NYSE »

Ditech Holding announced…

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GPS

Gap

$28.15

-4.82 (-14.62%)

, FL

Foot Locker

$55.97

9.585 (20.67%)

16:30
05/25/18
05/25
16:30
05/25/18
16:30
General news
On The Fly: Top stock stories for Friday »

Stocks on Wall Street…

GPS

Gap

$28.15

-4.82 (-14.62%)

FL

Foot Locker

$55.97

9.585 (20.67%)

HLF

Herbalife Nutrition

$48.76

-5.09 (-9.45%)

IEP

Icahn Enterprises

$69.41

0.22 (0.32%)

FCAU

Fiat Chrysler

$21.82

-0.445 (-2.00%)

DGX

Quest Diagnostics

$105.89

5 (4.96%)

UNH

UnitedHealth

$244.96

2.23 (0.92%)

ROST

Ross Stores

$77.35

-5.6 (-6.75%)

ADSK

Autodesk

$132.80

-5.96 (-4.30%)

AAL

American Airlines

$44.89

1.34 (3.08%)

LUV

Southwest

$52.86

1.65 (3.22%)

DAL

Delta Air Lines

$55.89

1.48 (2.72%)

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16:30
05/25/18
05/25
16:30
05/25/18
16:30
Options
Preliminary option volume of 16.4M today »

Preliminary option volume…

VTL

Vital Therapies

$5.65

-0.475 (-7.76%)

16:26
05/25/18
05/25
16:26
05/25/18
16:26
Syndicate
Breaking Syndicate news story on Vital Therapies »

Vital Therapies files to…

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